06/26/2012   Daily Outlook

Greetings!,

 

How do you spell "volatility?" O-p-t-i-o-n e-x-p-i-r-a-t-i-o-n. Today's lower prices in the precious metals markets were heavily influenced by options expiration day, as this was the last trading day for July 2012 Comex gold. 

 

Yesterday's rally seems now to be a flash in the pan, gone in the blink of an eye as any gains seen yesterday have been given back. Traders and investors are also in a wait and see mode as we draw closer to the E.U. summit, which will be held on Thursday. Although no real progress is expected from this summit, the primary topic that will undoubtedly be discussed is the current E.U. debt crisis.

 

Noteworthy were comments made on Monday by  German leader Angela Merkel. Both Spanish and Italian bonds have yields that continue to increase. So if you have the fortitude and a whole lot of faith that these bonds will return not only the principal but the interest, you could see an incredible return. The flip side is having bonds that are redeemed for a percentage of face value as we saw in Greece.

 

As always, wishing you good trading

Executive Producer
The Gold Forecast

gary@thegoldforecast.com 

On Skype Gary.S. Wagner

       Today's video 

 

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Proper Action

 GOLD & SILVER : gains from yesterday's rally were given back in today's trading activity. We are still waiting solid technical evidence that we have some type of bottom in place. Until then we remain sidelined with no position. 

 

 

MARKET FORECAST

Gary S. Wagner

 

Technical selling along with options expiration day has been cited for today's sell off in the precious metals markets. We will continue to focus on support and resistance levels found within both gold and silver. As today's video will clearly demonstrate we are just at critical levels in both gold and silver.

 
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Dollar Index

 

 

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Before deciding to participate in Gold or Silver investments, you should carefully  consider your investment objectives, level of experience and risk appetite. Most importantly with futures activity do not invest money you cannot afford to lose.There is considerable exposure to risk in any futures exchange transaction, including, but not limited to, leverage,and market volatility that may substantially affect the price of  gold and /or silver. Moreover, the leveraged nature of futures trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you.